The investment will enable Prysmian to double its production capacity for extruded cables at its three factories in Pikkala (Finland), Pozzuoli (Italy) and Gron (France) from around 2,000 km a year to over 4,000 km a year.

Aug 7, 2024

Prysmian, world leader in the power and telecom cables sector, has signed a new finance contract worth EUR 45 billion with European Investment Bank (EIB) to facilitate electricity transmission and distribution in Europe. With a view to meeting the growing demand for renewable energy in general and offshore wind in particular, Prysmian will use the EIB funds to build new production lines for extra-high-voltage submarine cables, lines for high-voltage onshore cables and other technical improvements to existing lines.

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The EIB-financed investment will enable Prysmian to double its production capacity for extruded cables at its three factories in Pikkala (Finland), Pozzuoli (Italy) and Gron (France) from around 2,000 km a year to over 4,000 km a year. This will help to meet EU targets for clean energy transmission via submarine cable solutions and long-distance interconnections, improving the integration and efficiency of renewable energy. The project is fully in line with the EIB’s climate action and environmental sustainability goals and the REPowerEU framework, which the EU bank has committed to support with EUR 45 billion of additional investment by 2027.